Viberate: Revolution in the Live Music Industry

Published on24 Aug. 2017

Decentralized platform Viberate provides a possibility for all willing to invest into the development of the live music industry. Crowdsale of the project that can disrupt this industry starts on September, 5.

What Is Viberate?

According to the investigations by International Confederation of Societies and Composers (CISAC) and UNESCO, annual turnover of funds within the music industry is around 250 billion dollars, the third part of which goes to the live concerts of the artists. Viberate plans to provide the users the possibility to become a part of this music industry.

Viberate created a platform of live music, where users can search for the profiles of their favorite artists, browse various information, find out about the dates of the future tours, and buy tickets. However, Viberate is designed not only for users, but musicians will also profit from the activity on the platform. Event managers and organizers of live concerts will be able to order and pay the services of musicians immediately, so the Viberate base is quickly expanding.

Following their goal to list and map the entire global music industry, Viberate just added 50 thousand music venue profiles and more than 200 thousand event profiles to its crowdsourced database. Venues and events joined over 120 thousand musician profiles already online since spring. The developers hit yet another deadline, as venue profile launch was set before the company’s token crowdsale. Beginning on September 5, they intend to raise $12M from selling Vibe tokens to fund further development.

Due to the Viberate team and the use of smart contracts, while signing the agreements, the innovative blockchain technologies will change the current state of affairs in the industry musical event organization.

Interview with founders and advisors Viberate, including Charlie Shrem, entrepreneur, bitcoin advocate and a founding member of the Bitcoin Foundation:

Vibe Token Ecosystem

The base for fulfilling the money relations between users, musicians, concert organizers, managers, etc., is Vibe (VIB) – token of an ERC20 standard on the basis of Ethereum. One can spend Vibe tokens for reserving and buying tickets, buying the advertising space on Viberate.com, subscription for premium-services, and access to the premium-contracts of the industry. After the end of the crowdsale, VIB tokens will appear on the crypto-currency exchanges.

One will be able to earn Vibes in the following ways: adding new profiles to the project’s database; supervising and updating information in the existing profiles; adding events to the database; inviting friends, writing articles; through the bounty campaign, by spreading information about the project in social media.

The Viberate team is enthusiastic about its ambitious plans on engaging the whole music industry to use VIB tokens within the single ecosystem. For that, all levels of the music industry should be reached. Then, the artists will be able to receive the payment for their live concerts in Vibes, and users, in their turn, will be able to use VIB for the transparent, convenient, and fast purchase of tickets to any concerts.

The project’s database is already filled in by many musicians, ticket agencies, musical platforms, and people responsible for concerts’ organization. This database is well-organized, easy to use, includes filters for different parameters, e.g., search according to country or artist.

ICO and Token Distribution

The general number of Vibes will be 200 million tokens, 60% of which (120 million Vibes) will be sold during the crowdsale, which starts on September, 5.

The rest will be distributed the following way: 16% goes to the project founders and developer team; 8% is reserved for developers and consultants; 5% of all tokens will be allocated for bounty campaign; 4% will have early investors and those who provided the developers with the “rocket fuel”; 5% is a reward for those who will fill in the project’s database; and 7% goes to the reserve fund.

The initial price of VIB will be $0.1. Since all funds during the crowdsale will be accepted in ETH only, the final price of tokens will be fixed on the day of the ICO start.

Crowdsale will last to October, 4, or will end after the reach of the maximum - $12 million. The minimal sum planned to be raised during the ICO is $1 million.

For those who will invest in Viberate in the early stages of ICO, significant bonuses will be provided. Users that purchase VIB during the first 48 hours of crowdsale will receive a bonus in the size of 12%, during the first week – 9%.

All prices mentioned in the article correspond to the ETH rate of 1 ETH = $309.69. The final rate will be fixed on the day of the crowdsale.

Conclusion

The potential of the live music industry is enormous, and people will always strive to visit the concert of their favorite band and listen to the famous musician live. That is why the idea of the Viberate team to create a huge blockchain platform of the live artists, together with VIB token ecosystem, sounds very interesting and has a right to be brought to life.

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